Illinois Senior Property Tax Exemptions
2026 exemptions · reviewed September 6, 2026
Shows which Illinois property tax exemptions you qualify for and what each saves at your local tax rate. AboutLess
In plain words. Illinois taxes homes on an assessed value, and the state gives homeowners exemptions that lower that value: one for living in the home, one more from age 65, and for seniors with modest incomes a freeze that holds the assessed value where it was when they first applied. The amounts differ by county. This tool takes your county, your assessed value, your age, and your household income, and shows which apply and what each is worth in dollars at your rate.
Why it matters. The senior exemptions are not automatic everywhere, the freeze needs a yearly form, and the saving is real money every year for as long as you own the home.
An example. A Cook County home assessed at $60,000, owner 70, household income $50,000, frozen at $50,000, at an 8 percent rate: $28,000 of exemptions, about $2,240 a year saved on a $4,800 bill.
Where it stops. The assessed value and the local rate come from your bill, and the freeze depends on when you first applied. It does not cover the exemptions for veterans or people with disabilities, or appeals of the assessment itself, which are the county's process. Everything it leaves out.
The taxable value the county assigns your home, usually about a third of what it would sell for. It is printed on your bill and on the county assessor's site.
If you have the senior freeze, enter the value from the year you first qualified. If not, leave it equal to today's value.
The senior exemptions begin at age 65.
The freeze requires total household income of $75,000 or less. Count everyone living in the home and include Social Security.
The total rate printed on your bill, combining every taxing district. It is often 7 to 12 percent in Cook and the collar counties.
- General homestead exemption
- $10,000
- Open to any owner who lives in the home. Saves $800 a year
- Senior homestead exemption
- $8,000
- From age 65. Saves $640 a year
- Senior assessment freeze
- $10,000
- Holds the value at $50,000. Saves $800 a year
Exemptions reduce the assessed value, not the bill itself. Each one is worth its amount times your tax rate. The senior exemption is claimed once with the county and renews on its own. The freeze must be renewed every year with an income form, and its value grows as assessments rise above the year you locked in. Missed exemptions can usually be claimed back for a few prior years through the county.
This follows the Illinois property tax rules for the general homestead exemption, the senior homestead exemption, and the senior assessment freeze, using the 2026 amounts. It takes the assessed value and rate from your bill, never lets the exemptions exceed the value, and applies the freeze's income test (for taxable year 2026; $65,000 through 2025, rising to $79,000 from 2028) to the whole household. It leaves out the exemptions for veterans with disabilities, people with disabilities, home improvements, and long-time occupants, and it does not cover appealing your assessment. Educational, not advice.
This is a simplified model, not your actual tax return or plan. It only knows what you type in, leaves out rules that may apply to you, and cannot weigh the other facts and trade-offs a real decision depends on. Before you act, talk with a professional who knows your whole situation.
Educational only, not investment, tax, or legal advice. Results are hypothetical estimates that vary with each use and over time and are not guaranteed accurate or complete. Using this tool creates no client relationship with Considerate Capital, and the site that linked here is not affiliated with it. By using it you agree to the tool terms.